China's taking over the world economy
Informative report about the Chinese place in the world economy.
Thanks to their ability to produce a lot cheaply, the chinese have contributed to keep inflation low in the developped countries, but have also contributed to keep the salaries increase low.
And with the huge pile of US dollars (over 500 billions!) it has more and more influence over the value of the greenback. Hence Washington is loosing control over its own currency in favor of Beijing.
Actually I start to wonder where will the chinese expansion and influence stop!
When things will turn nasty to secure oil supplies and they will have to compete with the USA to secure them, we might see a nice fight!
Anyway, it is quite impressive to see what the chinese achieve in less than 15 years.
Thanks to their ability to produce a lot cheaply, the chinese have contributed to keep inflation low in the developped countries, but have also contributed to keep the salaries increase low.
And with the huge pile of US dollars (over 500 billions!) it has more and more influence over the value of the greenback. Hence Washington is loosing control over its own currency in favor of Beijing.
Actually I start to wonder where will the chinese expansion and influence stop!
When things will turn nasty to secure oil supplies and they will have to compete with the USA to secure them, we might see a nice fight!
Anyway, it is quite impressive to see what the chinese achieve in less than 15 years.
Labels: Economy
posted by Bambitroll at
19:18
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